Robots are machines which can be programmed to perform certain routine tasks on command. They are faster, more precise and consistent than human beings and thereby offer increased efficiency and productivity. Earlier, robots were primarily used in assembly lines of the automotive industry but their fields of application have widened drastically in recent years. Nowadays, their uses range from mowing lawns and cleaning nuclear waste to performing surgeries and exploring the outer space. According to IMARC Group’s latest report, titled “Robotics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the global robotics market reached a volume of 7.9 Million units in 2017, exhibiting a CAGR of around 23.1% during 2010-2017.

Growing investments and the subsequent advancements in robotics technology represent the key factors driving the robotics market. Robots have now become more intelligent with enhanced sensory perception as a result of improved vision, better force sensors and faster processors. This has facilitated the move towards automation made by a number of industries in order to increase productivity and reduce costs. As a result, robots are now being used in diverse industries such as food and beverage, healthcare, entertainment, defence, logistics, cleaning, etc.

The report has segmented the market on the basis of type into industrial and service robots. The industrial and service robot segments have further been categorised as articulated robots, cartesian robots, cylindrical robots and SCARA robots; and as professional robots and personal & domestic robots, respectively. Currently, service robots account for the majority of the total market share. On a regional-basis, the report covers North America, Latin America, Europe and Asia-Pacific. Currently, North America represents the largest region, accounting for nearly half of the total global share. The report has also analysed the competitive landscape of the market with some of the key global players being ABB Group, KUKA AG, FANUC Corporation, Yaskawa Electric Corporation, etc.

This report provides a deep insight into the global robotics industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the robotics industry in any manner.

Key Aspects Analysed:

Trends and dynamics in the robotics market.Major product types/sub-types and their current and future market potential.Major application segments/sub-segments and their current and future market potential.Key drivers/restraints and their impact on the current and future market scenario.Examination of the competitive landscape.